Planned Layoffs Increase On Technology Jobs

Challenger's layoff count this year has sometimes spiked higher but has yet to be reflected in much increase at all in jobless claims or much decline in payroll growth. Versus 38,845 in July, layoff announcements totaled 53,480 in August more than 10,000 of which trade issues were cited as the cause. Layoff announcements in August were led by technology where layoffs this year are up more than threefold. Warehousing companies, losing contracts with retailers and e-tailers, have also been cutting jobs this year according to the report as have mining companies.